Controversy Over "Double Endorsement" of Shelf Holding Checks at Banistmo
(Panama-Guide ) By Santiago Fascetto for La Prensa - The financial mechanism whereby Lucky Games Ltd. sent funds to the company Shelf Holding Inc., which operated by former President Ernesto Pérez Balladares, has generated cross words between the former top executives of the now defunct Primer Banco del Istmo (Banistmo) and the official responsible for authorizing and performing the operation. Lucky SA Games did not issue the checks directly payable to Shelf Holding Inc., but rather the company wrote checks - payable for almost the exact amount for several months - payable to Banistmo, and later the bank endorsed and deposited those checks into an account held by Shelf Holding Inc. in the same bank.
